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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of StoneCo Ltd. (STNE) on Behalf of Investors

August 31, 2021 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Aug 30, 2021--

Law Offices of Howard G. Smith announces an investigation on behalf of StoneCo Ltd. (“Stone” or the “Company”) (NASDAQ: STNE ) investors concerning the Company’s possible violations of federal securities laws.

On August 30, 2021, after the market closed, Stone announced its second quarter 2021 financial results in a press release, reporting an 8.1% year-over-year decrease in revenue “mainly due to adjustments in credit fair value and significantly lower credit disbursements.” The Company stated that it had “implemented some prudent actions, like temporarily stopping the disbursement of credit and increasing coverage for potential future losses, which impacted [Stone’s] reported results for the quarter.”

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On this news, the Company’s share price fell sharply during afterhours trading on August 30, 2021.

If you purchased Stone securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210830005609/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2021.

PUB: 08/30/2021 08:04 PM/DISC: 08/30/2021 08:04 PM

http://www.businesswire.com/news/home/20210830005609/en